This week's soybean story was one of unbridled demand. Weekly U.S. soybean export sales set an all-time high for this marketing year at 1.3 MMT (47.7 million bushels). Sales need to average just 200,000 MT (7 million bushels) a week to meet USDA's marketing year forecast. This morning's NOPA crush report showed that 157 million bushels (4.3 MMT) of soybeans were processed in the U.S. in the month of November. The all-time high monthly soybean crush number was 160 million bushels (4.35 MMT) back in 2009.Note that the percentages of USDA's soybean meal and soybean oil export sales were significantly larger until those goals were increased in last Tuesday's WASDE. The soybean oil export estimate was increased from 1,200 million pounds to 1,8...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Unlike the 2022 fertilizer shock, today’s disruption is rooted less in rerouted trade flows and more in damaged production capacity, raw material constraints and uncertain recovery timelines. That makes this a longer-duration risk for U.S. agricultural producers and retailers who must sec...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.